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Non-Tech : RAINFOREST CAFE
RAIN 3.830-1.0%Jan 7 3:59 PM EST
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To: Dennis Vail who wrote (4123)4/1/1998 2:34:00 AM
From: Dennis Vail   of 4704
 
Two last items.

In the 10K RAIN states that the first 5 mall units had an averaged cost of $5.1 million net of landlord contributions to open while last year the average cost of the mall units was $7.1 million. I believe that is one iof RAIN's stated goals this year to lower the cost of opening a unit.

Finally here is the description of the new accounting practices that RAIN (and by 1998 everybody else) will be instituting:

In April 1997, the Accounting Standards Executive Committee of the American Institute of Certified Public Accountants (AICPA) issued an exposure draft entitled "Reporting on the Costs of Start-Up Activities." The proposed accounting standard contained in this draft would require entities to expense as incurred all start-up and preopening costs that are not otherwise capitalizable as long-lived assets. If adopted by the AICPA, this new accounting standard
would be effective for fiscal years beginning after December 15, 1998 with earlier application encouraged. The comment period for the exposure draft ended in July 1997, and the AICPA is expected to issue a final pronouncement on this standard during the second quarter of 1998. If the new accounting principle is adopted by the AICPA, the Company will choose early implementation during fiscal 1998. This implementation will involve the recognition of the cumulative effect
of the change in accounting principle required by the new standard as a one-time charge against earnings, net of any related income tax effect, retroactive to the beginning of fiscal 1998 the effect would be a change of earnings of approximately $4.0 million.

Regards,
Dennis

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